Some positivity in the Aussie Dollar but we're not out of the woods yet
Jim Devonport
Compass Global Markets
AUDUSD: Pushed higher, despite a weaker domestic Business Confidence read, on a recovery in the Chinese Trade Balance and SSE. Focus today will be on second tier data and a speech by the Deputy Governor. On the charts we haven’t negated the downward trend yet, but the signs look good for some further short term upside. AUDEUR: Retraced higher, as forecast yesterday. Interestingly Greek “bad loans” fell to just 45% and Spanish house prices recorded their largest Q2 rise ever. Technically we have hit short term resistance. AUDGBP: The Aussie made up some ground versus Sterling overnight. UK Manufacturing Production data is out this evening and could well decide whether we continue to the top of the downward channel. As ever with this pair, we suggest placing orders given the volatility. AUDNZD: Did push higher during our session; although with the RBNZ due to announce interest rate policy first thing tomorrow the market was reluctant to take us too far outside the range. We should therefore hold fire for the next 24 hours. CALL TO DISCUSS YOUR CURRENCY EXPOSURE. (VIEW LINK)
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Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships.
Constantly travelling between the Australian and New Zealand offices, Jim’s primary aim is to assist business and high net worth clients on either side of the Tasman with their international money transfers and to effectively manage their foreign exchange risk. Jim happily does this with two main beliefs; the first is to not trying to make money from the financial markets, but protecting capital exposure by actively negating adverse market moves so thereby protecting your bottom line. The second is the use of a solid mix of spot and forward contracts, along with currency options when suitable, to help to create a watertight hedging strategy.
Jim is always glad to offer his guidance in any area of foreign exchange, or the financial markets as a whole, and welcomes the chance to meet with businesses or individuals for a brief chat or more detailed discussion.
Jim Devonport
E: jim@compassmarkets.com
T: 02 8039 1485
M: 0415 066 468
Jim Devonport
Compass Global Markets
Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...
Expertise
No areas of expertise
Jim Devonport
Compass Global Markets
Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...
Expertise
No areas of expertise
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